Lehman administrators win CLN case in Korea


On February 11, the Seoul District Court dismissed a claim brought by TrueFriend, an assignee of Korea Investment & Securities (KIS), against Lehman Brothers International Europe (LBIE), seeking to recover 350 billion won ($314 million) of losses it incurred on the purchase of credit-linked notes (CLNs) dating back to November 2006.

The case centres around the purchase by KIS of CLNs – securities with embedded credit default swaps, which  allow the issuer to transfer a specific credit risk to

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: